2018 Best Practices Study

AGENCIES WITH REVENUES OF:

AVERAGE

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

% of Agencies that Hired New Producers Last Year # of New Producers Hired Last Year Avg annualized wages per prod hired # New Producers Hired past 5 Yrs Producer Success Rate past 5 years

31.0%

38.7%

33.3%

64.4%

89.2%

92.3%

1.3

1.2

1.5

1.7

3.3

7.5

$40,379

$44,900

$54,283

$71,533

$78,683

$126,971

2.9

2.9

3.3

5.2

10.7

31.4

61.5%

58.7%

60.5%

63.0%

54.1%

55.7%

AGENCIES WITH REVENUES OF:

TOP QUARTILE

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

# of New Producers Hired Last Year Avg annualized wages per prod hired # New Produceres Hired past 5 Yrs Producer Success Rate past 5 years

2.0

1.7

2.3

2.9

5.7

14.1

51,075

$70,000

$75,697

$126,281

$123,820

$268,990

5.8

6.0

5.9

9.8

16.7

64.2

100.0%

100.0%

96.4%

95.7%

79.4%

79.5%

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Recruiting & Development Techniques:

Recruiting: Targeted college recruiting efforts/programs Use of outside recruiters

6.3%

22.2% 33.3%

24.1% 44.8%

39.5% 53.5%

44.1% 61.8%

69.2% 69.2%

12.5%

Use of social media as a recruiting tool

31.3%

50.0%

41.4%

67.4%

79.4%

84.6%

Assessment: Testing (sales, personality, intelligence capabilities, call reluctance, etc.)

68.8%

83.3%

86.2%

93.0%

97.1%

84.6%

Development: Internship Mentorship

25.0% 50.0%

44.4% 66.7%

41.4% 75.9%

51.2% 86.0%

52.9% 85.3%

71.8% 97.4%

Technical training: Internal

68.8% 62.5%

83.3% 83.3%

93.1% 86.2%

100.0%

91.2% 88.2%

94.9% 84.6%

External

90.7%

Sales training: Internal

68.8% 68.8%

83.3% 61.1%

79.3% 89.7%

95.3% 95.3%

94.1% 85.3%

92.3% 82.1%

External

Selling structure: Required specialization

12.5% 43.8% 62.5%

27.8% 50.0% 61.1%

20.7% 69.0% 58.6%

32.6% 76.7% 58.1%

38.2% 88.2% 79.4%

46.2% 84.6% 74.4%

Team selling

Assigned accounts

 76